Monday, 9/22/2025
GOOD MORNING, CFO
The only newsletter a CFO needs to start the day right.
(Made for CFOs who don’t have time to read ALL the news)
☕ Here’s what smart CFOs are reading before the markets open...
HEADLINES & DEADLINES
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1. Senate Rips KPMG Over SVB Collapse
After a 28-month probe, a Senate subcommittee says KPMG ignored obvious red flags at Silicon Valley Bank, Signature, and First Republic before they imploded in 2023. Despite glaring risks, auditors issued clean opinions. CFO takeaway: Expect renewed scrutiny of audit relationships, governance, and disclosures.
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2. CEO Confidence Bounces Back
71% of U.S. CEOs expect higher sales in the next six months, up from 67% last quarter, per the Business Roundtable. Capital spending plans are also ticking up. CFO takeaway: Growth optimism is returning, but it may collide with tariff-driven headwinds.
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3. Tariffs Put a Dent in Growth
The Conference Board now expects U.S. GDP growth to slow to 1.6% in 2025, down from 2.8% in 2024, citing tariff drag. CFO takeaway: Time to revisit forecasts, especially if your supply chain is tariff-exposed.
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4. Fed Trims Rates for the First Time This Year
The Fed cut its benchmark rate by a quarter-point and signaled two more cuts may follow before year-end, citing weaker hiring and cooling inflation pressures. CFO takeaway: Cheaper borrowing costs are here, but don’t bank on a rapid cycle of cuts.
FAST FACTS YOU SHOULD KNOW
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71% – U.S. CEOs expecting sales growth in the next 6 months
1.6% – GDP growth projected for 2025 (down from 2.8% in 2024)
2 – More rate cuts Fed is penciling in this year
28 months – Length of the Senate probe into KPMG’s audits of failed banks
CFO-APPROVED WATCHLIST
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Read: Conference Board’s GDP forecast showing tariff-induced slowdown
Listen: Business Roundtable CEO survey breakdown (podcast replay)
Watch: Senate hearing clips on SVB audit failures
MORNING HACKS
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Audit Risk Snapshot: Run a quick review of your auditor’s independence and risk assessments, especially if your industry is under regulatory or political pressure.
Forecast Stress Test: Model tariff impacts on 2026 margins under multiple scenarios.
Liquidity Lens: Re-assess debt strategy with Fed cuts back in play.
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